| A | B |
|---|
| Wholesalers | businesses that sell in large quantities to retailers. |
| Sales Order | Form on which the order is first recorded; do not show extensions and totals |
| Sales Invoice | A bill; usually three copies are made for the shipping department, accounting department and customer; shows extensions and totals. A customer's credit and stock on had are checked first. |
| Terms | Length of time a customer has to pay a bill |
| Due Date | Date Invoice should be paid |
| Stock | merchandise on hand |
| Accounts Receivable Ledger | A group of customer accounts that shows the balance of what each customer owes. |
| Sales Journal | A record of charge sales |
| Post | To transfer data from one record to another |
| Posting Reference | Abbreviations which show where entries were posted from |
| Debit | The column used to record a charge sale in a customer account |
| Credit | Cash received in payment or merchandise returned in a customer account; subtracted from account; recorded as a credit |
| Posting Reference | Abbreviations, such as S1, that show where entries were posted from; posting should be done daily |
| Cash Receipts Journal | A record of cash received; then posted to customer accounts; amounts are recorded as credits; postings made daily to keep accounts up-to-date. |
| Allowance | an allowance is given to reduce the price or correct an overcharge |
| Overcharge | a price on the invoice is more than it should be |
| Sales Returns & Allowances Journal | Record of all credit memos; a copy is sent to the customer and the other is recorded. |
| Schedule of accounts receivable | Prepared at the end of the month, it is a list of customers that owe money. |
| Customer Accounts | Arranged numerically or alphabetically by customer name |
